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JV With International Equity Partner Closes on Baltimore Office

“Foreign investors like the mitigated risk associated with Baltimore and the fact that they are able to get more yield here than in Washington, DC.”

By Erika Morphy | Updated on November 01, 2017

120 E. Baltimore St.

BALTIMORE–Grander Capital Partners, a Boston-based commercial real estate investment management services company, and its equity partner, Boston Andes Capital, acquired 120 E. Baltimore St., a 25-story office tower in Downtown Baltimore. The property, which has a 75% occupancy rate, traded for $32.8 million.

It is telling that one of the players in the deal was a foreign investor (Boston Andes has offices in Boston, Bogotá, and Buenos Aires) Jonathan Carpenter, executive director at Cushman & Wakefield, which brokered the sale, tells GlobeSt.com.

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